Activity in the U.S. oil and gas sector in Texas, Louisiana and New Mexico contracted slightly in the second quarter of 2025, the Dallas Fed survey showed on Wednesday.

Oil and gas production decreased slightly.

Meanwhile, costs among oilfield service firms rose at a slightly faster pace in the second quarter compared with the first quarter, the survey showed.

Companies expected a West Texas Intermediate oil price of $68 a barrel at year-end 2025, and a Henry Hub natural gas price of $3.66 per million British Thermal units.
Source: Reuters (Reporting by Georgina McCartney in Houston)